Hazlett Burt & Watson Inc. Increases Position in Blackstone Inc. (NYSE:BX)

Hazlett Burt & Watson Inc. boosted its holdings in Blackstone Inc. (NYSE:BX) by 57.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 276 shares of the asset manager’s stock after buying an additional 101 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Blackstone were worth $43,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC grew its holdings in Blackstone by 1.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after buying an additional 7,692 shares in the last quarter. Blue Trust Inc. grew its stake in Blackstone by 936.2% during the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock valued at $783,000 after acquiring an additional 5,383 shares in the last quarter. Asahi Life Asset Management CO. LTD. purchased a new position in shares of Blackstone during the third quarter valued at about $557,000. Scientech Research LLC purchased a new stake in Blackstone during the second quarter valued at approximately $1,364,000. Finally, EverSource Wealth Advisors LLC grew its position in Blackstone by 11.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 54,159 shares of the asset manager’s stock valued at $6,705,000 after acquiring an additional 5,479 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider John G. Finley sold 35,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the sale, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on BX. BMO Capital Markets increased their price objective on Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, Bank of America raised their target price on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $155.38.

Blackstone Trading Down 0.7 %

NYSE:BX opened at $167.04 on Tuesday. Blackstone Inc. has a 12 month low of $96.15 and a 12 month high of $175.94. The company has a quick ratio of 0.77, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market cap of $120.28 billion, a price-to-earnings ratio of 57.40, a P/E/G ratio of 1.44 and a beta of 1.49. The company’s 50 day moving average is $154.40 and its 200-day moving average is $136.69.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were issued a $0.86 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 2.06%. Blackstone’s dividend payout ratio is presently 118.21%.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.